Sec.10(10AA) of Income Tax Act, 1961 must be amended
Leave Encashment amount received at the time of retirement/ superannuation must be made 'TOTALLY TAX FREE', for the employees of Public Sector Banks too. Now, this benefit is available only to Government (Central/State) employees.
As a first step in this direction, the present limit of Rs.3 Lakhs fixed 22 Years ago (i.e. in 1998) must be immediately enhanced to Rs.16 Lakhs.
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